Updates, advisories and surprises

(4:54 PM ET) NEW YORK (MarketWatch) - Shares of FireEye Inc.
FEYE, -0.62%
tumbled sharply in afterhours trade Tuesday after the cyber-security company missed revenue expectations for the third quarter. The company's sales grew 168% year-over-year to $114.2 million as it doubled its customer base. However, that fell short of the $116.2 million that was forecast by analysts in a FactSet poll, and marks the fourth straight quarter-over-quarter decline. Its adjusted loss of $73.9 million, or 51 cents a share, beat the 55-cent loss per share projected by analysts. However, shares of FireEye fell 20% to $27.27 after the bell.

(4:24 PM ET) NEW YORK (MarketWatch) -- CBS Outdoor Americas
CBSO
reported Tuesday a third-quarter net profit of $248.3 million, or $2.06 a share, up from $37.2 million, or 31 cents a share, in the year-earlier period. Comparable per-share earnings, which excludes a $232.3 million reversal of deferred taxes and other non-recurring items, fell to 21 cents from 27 cents. Analysts surveyed by FactSet were expecting, on average, earnings per share of 26 cents. The billboard and transit outdoor advertising services provider said revenue for the quarter ended Sept. 30 slipped to $336.5 million from last year's $338.2 million, topping analyst forecasts of $335.9 million. Adjusted funds from operations declined to $70.2 million from $78.2 million. The stock, which was little changed in after-hours trade, has fallen 7.4% over the past three months through Tuesday, while the S&P 500 has gained 3.8% over the same time.

(4:13 PM ET) SAN FRANCISCO (MarketWatch) -- 21st Century Fox Inc.
FOXA, -0.65%
late Tuesday reported its fiscal first-quarter net income fell to $1.04 billion, or 47 cents a share, from $1.26 billion, or 54 cents a share, a year ago. Revenue increased 12% to $7.89 billion. On an adjusted basis, 21st Century Fox earned 39 cents a share, ahead of 37 cents a share forecast by analysts in a FactSet survey. Shares of 21st Century Fox rose 0.5% after hours.

Priceline, Alibaba highlight mixed tech action

(9:59 AM ET) SAN FRANCISCO (MarketWatch) -- Tech stocks were mixed in early trading Tuesday, with several big-name Internet sector leaders in the spotlight. Online travel agency Priceline.com Inc.
PCLN
fell 7% to $1,113 a share after the company forecast weaker-than-expected fourth-quarter results due to concerns over the economy in Europe. Chinese Internet giant Alibaba Group
BABA, -1.26%
rose almost 2% following its first earnings report since going public. Online coupon and deal provider RetailMeNot Inc.
SALE
slid almost 28% to $14.77 a share after the company gave a disappointing fourth-quarter forecast and its chief financial officer said he will resign at the end of November. The tech-heavy Nasdaq Composite Index
COMP, -1.30%
fell 9 points to 4,630.

Sprint shares fall 13%, J.P. Morgan cuts price target

(9:25 AM ET) NEW YORK (MarketWatch) - Shares of Sprint
S, -1.96%
fell 13% in premarket trade after the mobile carrier reported its second straight quarterly loss and sales that missed expectations. The stock was met with a wave of negative analyst notes on Tuesday, including from J.P. Morgan Chase, which cut its price target on Sprint to $5 from $6. Pacific Crest Securities said it now sees more risk than benefits in holding shares of Sprint. "We continue to avoid," Pacific Crest analyst Michael Bowen said. Sprint late Monday lowered its fiscal 2014 EBITDA guidance by nearly $1 billion and said it would axe another 2,000 jobs. Sprint's shares were down 12.9% to $5.40 just before the market opened on Tuesday.

Office Depot beats profit expectations, lifts outlook

(8:17 AM ET) NEW YORK (MarketWatch) -- Office Depot's stock
ODP, -2.33%
surged 13% in premarket trade Tuesday, after the office supplies retailer beat third-quarter profit forecasts, and raised its full-year outlook. Net earnings for the quarter ended Sept. 27 came in at $29 million, or 5 cents a share, down from $133 million, or 41 cents a share, a year ago. Excluding non-recurring items, adjusted per-share earnings were 10 cents, exceeding the FactSet consensus analyst estimate of 9 cents. Sales rose 55% to $4.07 billion, while same-store sales fell 3%, compared with analyst forecasts of $4.07 billion and a decline of 3.1%, respectively. The company raised its outlook for 2014 adjusted operating income to a range of $255 million to $265 million, compared with a previous projection of "not less than $200 million." The stock has lost 4.2% year to date through Monday, while the S&P 500 has gained 9.2%.

Burger King beats profit, same-store sales forecasts

(7:43 AM ET) NEW YORK (MarketWatch) -- Burger King Worldwide
BKW, -1.39%
reported a third-quarter net loss of $23.5 million, or 7 cents a share, compared with a profit of $68.2 million, or 19 cents a share, in the year-earlier period. Excluding non-recurring items, such as expenses related to its deal to acquire Tim Hortons
THI
adjusted per-share earnings were 27 cents, matching the FactSet consensus analyst estimate. Total sales rose 1.4% to $278.9 million, just shy of analyst projections of $281.4 million, but global same-store sales rose 2.4% to beat forecasts of and 2.1%, as sales in the U.S. and Canada grew 3.6%. "In the U.S. and Canada, we posted our best quarter of comparable sales growth since 2012 due to our consistent strategy of impactful new product innovation balanced by compelling value offerings," said Chief Executive Daniel Schwartz. The stock wasn't active in premarket trade. Through Monday, the stock has rallied 41% so far this year, while the S&P 500 has gained 9.2%.

Priceline shares dive on disappointing outlook

(7:38 AM ET) NEW YORK (MarketWatch) - Priceline Group Inc.
PCLN
shares fell 5% in premarket trade after the travel booking site delivered a fourth-quarter outlook that fell short of Wall Street's expectations. The company forecast adjusted earnings per share between $9.40 and $10.10, below the FactSet consensus of $10.97. This comes despite a stellar quarter for the company, where it recorded a 29% year-over-year improvement in third-quarter profit to $1.2 billion and a non-GAAP EPS of $22.16, beating the Street's view of $21.08. Revenue for the period climbed to $2.8 billion from $2.3 billion last year, matching expectations. However, its shares slumped 5.3% to $1,134 in premarket trade.

Michael Kors profit, sales top estimates

(7:29 AM ET) NEW YORK (MarketWatch) -- Michael Kors Holdings Ltd.
KORS, +1.93%
said it had net income of $207 million, or $1.00 a share, in its second fiscal quarter, up from $145.8 million, or 71 cents a share, in the year-earlier period. The luxury clothes and accessories maker was expected to post EPS of 89 cents a share, according to analysts surveyed by FactSet. Revenue rose 42.7% to $1.1 billion, ahead of the FactSet consensus of $978 million. Revenue rose 108.6% in Europe, 106.3% in Japan and 29.8% in North America. The company said its board has approved a $1 billion share buyback to be conducted over a two-year period. For the third quarter, it is expecting revenue of $1.27 billion to $1.30 billion, assuming a low double-digit same-store sales increase. Earnings per share are expected at $1.31 to $1.34, compared with a FactSet consensus of $1.34. Shares fell 6.1% in premarket trade, and are down 3.9% in the year so far, while the S&P 500 has gained 9%.

Alibaba's stock jumps as sales beat forecasts

(7:19 AM ET) NEW YORK (MarketWatch) -- Alibaba's stock
BABA, -1.26%
rallied 3.6% in premarket trade Tuesday, after the Chinese e-commerce giant reported an in-line third-quarter profit, but sales that were well above forecasts. Net earnings for the quarter ended Sept. 30 came in at $494 million, or 20 cents a share. Excluding non-recurring items, adjusted per-share earnings were 45 cents, matching the FactSet consensus analyst estimate. Revenue rose 54% from a year ago to $2.74 billion, exceeding analyst forecasts of $2.61 billion. Gross merchadise volume transacted on Alibaba's China retail marketplaces increased 48.7% from a year ago, while mobile GMV represented 35.8% of total GMV. Annual active buyers at the end of September totaled 307 million, up from 279 million at the end of June. The mobile monetization rate increased to 1.87% from 1.49%. The stock closed Monday at a record high of $101.80 on Monday, or 50% above the initial-public-offering price of $68, and 8.4% above where it closed on the first day of trading on Sept. 19. In comparison, the S&P 500 has gained 0.4% since Sept. 19.

CVS shares rise more than 3% as revenue tops estimates

(7:15 AM ET) NEW YORK (MarketWatch) -- CVS Health Corp.
CVS, -1.71%
said it earned $948 million, or 81 cents a share, in the third quarter, down from $1.249 billion, or $1.02 a share, in the year-earlier period. The drug-store chain said adjusted per-share earnings came to 88 cents, including a 27 cents loss on the early retirement of debt, compared with a FactSet consensus of $1.13. Revenue rose to $35.021 billion from $31.932 billion, ahead of the FactSet consensus of $34.723 billion. Looking ahead, CVS said it is narrowing its full-year adjusted per-share earnings range to $4.47 to $4.50, excluding the debt-related loss. On a GAAP basis, per-share earnings are expected at $3.93 to $3.96. The company is expecting full-year free cash flow of $5.7 to $6.0 billion. Shares rose 3.3% in premarket trade, and are up 20% in the year so far, while the S&P 500 is up 9.2%.

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